Transaction / Assets Nine luxury hotelsSeller BoscoloBuyer Varde€ MM 150
Funds are buying luxury hotels
19 February, Il Sole 24 Ore
The group Boscolo has been transferred to the American fund Varde for an equity value of 150 million. Varde had already acquired the debts of the financing banks. The perimeter of the operation is composed of a portfolio of nine directly owned luxury hotels in Rome, Venice, Florence, Nice, Budapest, Prague and one leased in Milan. The Boscolo family has kept the ownership of the brands Boscolo and Exedra. The Bauer Hotel in Venice was transferred in August 2017. The fund Elliott acquired 75% of it together with the London-based financial group Blue Skye that had previously acquired its debts. The remaining 25% has been kept by the family Bartolotto Possati.
Source: Il Sole 24 Ore
Translator: Cristina Ambrosi